planned actions will contribute to urban regeneration , the redevelopment and energy efficiency of public buildings and the advancement of sustainable mobility . Since 1998 , the EU bank has provided € 1.06 billion to Florence across nine operations .
The signed agreement and the approval of the operation by the municipal council and the EIB Board of Directors opens up financing possibilities for a wide range of other major investments for the city . These include the Smart City plan and climate strategies to improve the city ’ s resilience to future climate events such as earthquakes and floods .
In concrete terms , the EIB funding will make a particular contribution to improving the energy efficiency of public buildings including schools and sports facilities , redeveloping green areas , public spaces and roads , and promoting sustainable mobility via the purchase of electric buses and the construction of cycle lanes and rest areas . The municipality ’ s digital infrastructure ( such as its fibre optic network ) will also be strengthened .
With this operation , the municipality of Florence will have received more EIB concessional financing than any other Italian municipality , enabling it to make major investments in regional development . The best interest rate terms available on international markets mean that the resources provided by the EU bank will enable the municipality of Florence to make significant financial savings . The municipality estimates that it will save over € 10 million over the EIB loan ’ s 25-year term .
“ Big municipalities like Florence play a key role in promoting the climate transition in Italy ,” said EIB Vice-President , Gelsomina Vigliotti . “ Investments in regenerating urban areas , promoting sustainable mobility and the energy efficiency of public buildings are priorities for the EIB , with a view to making Italy more sustainable and resilient to future climate events . Italy is among the biggest beneficiaries of
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